(Smith's fund was selected by Shannon Zimmerman for our Champion Funds service in March 2004 and has beaten its benchmark by more than 6% since.)

And Smith is hardly alone in his assessment. Researchers point to data that says growth stocks are due for a massive rally. But growth should always occupy at least a portion of your portfolio for three very good reasons:

How we do itNot all growth stocks will suffice. Our weekly hunt is for the next great multibagger -- think of Bankrate (Nasdaq: RATE) or J2 Global Communications (Nasdaq: JCOM) . But unlike David Gardner and his team at Motley Fool Rule Breakers, who scour everything from financial statements to trade magazines to clinical reports in their research, we're going to rely on the Motley Fool CAPS community-intelligence database.

Specifically, we're looking for stocks that are expected to grow earnings by an average of at least 20% annually over the next five years and which have earned a five-star rating in CAPS. Five-star stocks are those that the community, on the whole, believes will outperform the S&P 500.

Let's have the listNow, with that preamble behind us, here are five more top growth stocks:

Bear in mind that this isn't a list of recommendations. Instead, I offer these stocks as candidates for further research. Among the list, online gaming administrator The9 interests me most, which is weird because I'm not a video gamer. Nevertheless, I get the appeal of video games and I know there's a growing market for them -- especially in China.

CAPS all-star PicsouFool best explains the thesis: "World of Warcraft, Guild War, Hellgate London ... The9 is no longer a one trick pony, but a serious player and soon leader in the gaming industry in China."

Intrigued? Do your own due diligence and then check in with thousands of other investors at CAPS. And, if you'd like, add your own commentary. You'll be helping your fellow Fools and testing your ideas at the same time. Click here to get started now; the service is 100% free.

See you back here next week for five more top growth stocks.

How great is growth? Three of the dozens of stocks in the market-beating Motley Fool Rule Breakers portfolio, of which Bankrate is a member, have quadrupled in two years. Care to find out what they are? Click here to get 30 days of free access to the service.

Fool contributor Tim Beyers, ranked 1,073 out of 17,868 in Motley Fool CAPS, is a sucker for growth stocks and a regular contributor to David's Motley Fool Rule Breakers service. Tim didn't own shares in any of the companies mentioned in this story at the time of publication. Get the skinny on all of the stocks in Tim's portfolio by checking his Fool profile. The Motley Fool's disclosure policy is your portfolio's competitive advantage.

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Tim Beyers first began writing for the Fool in 2003. Today, he's an analyst for Motley Fool Rule Breakers and Motley Fool Supernova. At Fool.com, he covers disruptive ideas in technology and entertainment, though you'll most often find him writing and talking about the business of comics. Find him online at timbeyers.me or send email to tbeyers@fool.com. For more insights, follow Tim on Google+ and Twitter.